Multifamily

1965 S Garth Ave

1965 S Garth Ave, Los Angeles, CA 90034

Listing Price: $2,900,000

Cap Rate
4.99%
Number of Units
6
Price/Unit
$483,333
Price/Gross SF
$449.75
Gross SF
6,448

Investment Overview

The Neema Group of Marcus & Millichap is pleased to present 1965 South Garth Avenue, a six-unit investment opportunity in the South Robertson neighborhood of Los Angeles. This is a centrally located property in Los Angeles with close proximity to Culver City, Beverly Hills and Century City that attracts high-end renters with a quick commute throughout the city. The subject property will be delivered with five of the six units vacant, allowing an investor to renovate and achieve market rents immediately upon the close of escrow. The building consists of five three-bedrooms units and one single unit with no buyouts or relocation required. At the projected market rents, once stabilized the building is being offered at a projected 4.99%-5.44% CAP rate. There are six total parking spaces with city approval and Tenant Habitability Program in-place for the seismic retrofit work required. Gas and electricity are separately metered and each of the units have central heat throughout. The subject property is located less than a half-mile from Kaiser Permanente West Los Angeles and is walking distance to Plaza La Cienega on the southeast corner of 18th & La Cienega Blvd, a shopping center with prominent tenants such as Smart & Final Extra, Ross Dress for Less, CVS, and LA Fitness among others. The South Robertson neighborhood is ideally located for residents needing an easy commute to major employers and continues to be a highly sought after rental submarket...

Investment Highlights

  • Located just west of La Cienega Boulevard between Guthrie Avenue and Sawyer Street, a centralized location just north of the 10 Freeway with convenient access to Century City, Pico Robertson....
  • The subject property features an impressive unit mix of five three-bedroom units (approximately 1,150 SF) as well as one single unit
  • Five of the six units will be delivered vacant at the close of escrow, allowing an investor to renovate the interiors and achieve market rents
  • After the renovation and lease-up period, the subject property at the asking price is projected to achieve a CAP rate of 4.99%- 5.44%
  • Opportunity to fully stabilize the building immediately with no buyouts or relocation required
  • 1965 S Garth Avenue has a secure, gated entrance and has six total parking spaces with five tuck under spaces

Exclusively Listed By

  • Neema Ahadian

    Senior Managing Director Investments

    Email Neema

    License(s): CA: 01346750

    West Los Angeles

  • Leonardo Laterza

    Senior Associate

    Email Leonardo

    License(s): CA: 01861324

    West Los Angeles

Listing Price: $2,900,000

Cap Rate
4.99%
Number of Units
6
Price/Unit
$483,333
Price/Gross SF
$449.75
Gross SF
6,448

Investment Highlights

  • Located just west of La Cienega Boulevard between Guthrie Avenue and Sawyer Street, a centralized location just north of the 10 Freeway with convenient access to Century City, Pico Robertson....
  • The subject property features an impressive unit mix of five three-bedroom units (approximately 1,150 SF) as well as one single unit
  • Five of the six units will be delivered vacant at the close of escrow, allowing an investor to renovate the interiors and achieve market rents
  • After the renovation and lease-up period, the subject property at the asking price is projected to achieve a CAP rate of 4.99%- 5.44%
  • Opportunity to fully stabilize the building immediately with no buyouts or relocation required
  • 1965 S Garth Avenue has a secure, gated entrance and has six total parking spaces with five tuck under spaces

Investment Overview

The Neema Group of Marcus & Millichap is pleased to present 1965 South Garth Avenue, a six-unit investment opportunity in the South Robertson neighborhood of Los Angeles. This is a centrally located property in Los Angeles with close proximity to Culver City, Beverly Hills and Century City that attracts high-end renters with a quick commute throughout the city. The subject property will be delivered with five of the six units vacant, allowing an investor to renovate and achieve market rents immediately upon the close of escrow. The building consists of five three-bedrooms units and one single unit with no buyouts or relocation required. At the projected market rents, once stabilized the building is being offered at a projected 4.99%-5.44% CAP rate. There are six total parking spaces with city approval and Tenant Habitability Program in-place for the seismic retrofit work required. Gas and electricity are separately metered and each of the units have central heat throughout. The subject property is located less than a half-mile from Kaiser Permanente West Los Angeles and is walking distance to Plaza La Cienega on the southeast corner of 18th & La Cienega Blvd, a shopping center with prominent tenants such as Smart & Final Extra, Ross Dress for Less, CVS, and LA Fitness among others. The South Robertson neighborhood is ideally located for residents needing an easy commute to major employers and continues to be a highly sought after rental submarket...

Exclusively Listed By

  • Neema Ahadian

    Senior Managing Director Investments

    Email Neema

    License(s): CA: 01346750

    West Los Angeles

  • Leonardo Laterza

    Senior Associate

    Email Leonardo

    License(s): CA: 01861324

    West Los Angeles

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